https://www.taxtmi.com/news?id=51793 An executive order raised import duties to a combined 50% tariff as a punitive measure linked to India's continued purchase of Russian oil, with limited exemptions. The tariff increase operates as a customs sanction that will meaningfully raise export costs and disproportionately affect export-oriented sectors-textiles, marine, leather, agriculture, dairy, engineering goods, electronics, gems and jewellery, pharmaceuticals and petroleum products-exposing MSMEs and other industries to substantial market disruption absent pre-emptive fiscal or diplomatic mitigation. en-us Thu, 07 Aug 2025 11:16:03 +0530 Thu, 07 Aug 2025 11:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=51793 An executive order raised import duties to a combined 50% tariff as a punitive measure linked to India's continued purchase of Russian oil, with limited exemptions. The tariff increase operates as a customs sanction that will meaningfully raise export costs and disproportionately affect export-oriented sectors-textiles, marine, leather, agriculture, dairy, engineering goods, electronics, gems and jewellery, pharmaceuticals and petroleum products-exposing MSMEs and other industries to substantial market disruption absent pre-emptive fiscal or diplomatic mitigation. News - Thu, 07 Aug 2025 11:16:03 +0530 https://www.taxtmi.com/news?id=51793